NEW YORK (
) - In an attempt to level the playing field with its overseas competitors,
filed an anti-dumping petition against South Korean and Mexican residential washing machines on Friday.
The company also asked the U.S. government to levy taxes on South Korean imports.
In the anti-dumping petition, Whirlpool asserted that
are dumping their products in the United States from facilities in South Korea and Mexico and selling them at "substantially less than fair value."
Whirlpool's third-quarter sales were $4.6 billion, up from $4.5 billion the same period a year ago. Whirlpool has lowered its North American demand assumptions to a decline of 3 to 5% for 2011. The company's original outlook was for growth of 2 to 3%.
The Benton Harbor, Mich.-based appliance company also lowered its 2001 full-year earnings per share outlook in late October to $4.75 to $5.25 a share from a prior projection of $7.25 to $8.25 a share.
Whirlpool said Friday's legal action will help protect its 23,000 U.S. employees.
The company said the dumping by Samsung and LG "undermines competition, causes material injury to the appliance manufacturing industry, threatens American jobs and ultimately harms consumers who are left with fewer product choices."
Shares of Whirlpool rose 26 cents to $47.58 on Friday afternoon. The stock is down more than 46% year to date.
Written by Alexandra Zendrian in New York.
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